Bank rules hit UK property developers

UK commercial property developers are facing sharply higher costs and are likely to have to scrap many projects outside London as a result of tough new capital rules being imposed on British banks by the City watchdog.
Property companies and bankers to the sector have warned that the rules, which will force banks to hold substantially more capital against loans secured on offices and shops, risk derailing the prospects of recovery in commercial real estate values………………………………………..Full Article: Source